US occupational pension plan performance improved in the final quarter of 2002, but funds still posted an annual loss of 9.2% and underperformed their public and endowment fund peers, according to Mercer Investment Consulting.

Corporate plans returned an average of 4.7% in the fourth quarter, while public plans returned 4.8% and endowment funds made a 4.6% return. Over the 12-month period, public and endowment funds out-performed occupational funds by 20 and 30 basis points respectively.